News Corp has spent $30M on The Daily iPad newspaper

Rupert Murdoch is finally launching The Daily today, but there’s already been plenty of talk about the long-rumored iPad newspaper. One of the big topics of speculation has been the amount of money Murdoch is pouring into this effort.

That means The Daily is going to have to be a huge hit. At 99 cents a week (split with Apple), it will need hundreds of thousands of subscribers to break even on subscription revenue alone. (Murdoch said he eventually hopes to make half the revenue from advertising.) In comparison, Conde Nast’s Wired iPad app averaged 31,000 in monthly sales between July and September.